Workday, Inc., a leader in enterprise cloud applications for finance and human resources, today announced it has expanded the breadth and depth of insights that customers can uncover with the availability of new, out-of-the-box analytics that equip organisations with the information required to address today’s most pressing business problems. With new finance- and workforce-related scorecards and dashboards, customers can harness the power of real-time transactional data and predictive analytics to make smarter decisions that will help them better manage their finances, people, and projects.
Empowering customers with the insights that matter most
In today’s dynamic business environment, speed and agility are competitive advantages. Business leaders and managers must be empowered to make quicker, more informed decisions about an organisation’s future. However, many are constrained by disparate systems, outdated information, and manual analysis, and have often relied on instinct—not data—to make business decisions.
With this in mind, Workday is expanding the out-of-the-box insights available to customers with the addition of new dashboards and scorecards that will enable them to:
- Predict and manage customer collections: With Workday’s customer collections dashboard, organisations can leverage predictive analytics to determine the likelihood of an invoice being paid on time. For example, a revenue manager determining needs for third-party collectors can view a list of customers ranked by the risk associated with an account’s payment history. With this insight, a revenue manager can better manage collector requirements and proactively address accounts receivable issues, helping to improve cash forecasting by identifying potential bad debt in advance.
- Keep a pulse on workforce goals: With the executive workforce scorecard, business leaders can access a snapshot of key workforce metrics from a mobile device or desktop, including headcount, turnover, diversity, and percentage of contingent workers. For example, before presenting to the board on diversity initiatives, a CEO can view a snapshot of how the organisation is tracking against women in leadership goals, and view comments from recruiters on any issues in order to determine what action is needed.
- Improve project portfolio management: The project portfolio scorecard equips customers with a holistic view and status of their services or project-based business encompassing resource management, project tracking, financial results, and operations, over a specific period of time. For example, before a leadership team meeting, a director of services could access the scorecard from a tablet to get a glimpse of how billable hours are impacting project profitability. Additionally, the director could view project demand and quickly understand hiring needs in order to staff accordingly and avoid missing out on opportunities in the pipeline.
- Better control supplier spend: With the procurement dashboard, finance leaders can gain real-time insight into supplier spend with the ability to drill down into numbers and easily create requisitions and receipts, or search purchase orders, all within one experience. For example, in a weekly budget meeting, a procurement leader could quickly understand top suppliers according to spend or compare managed versus unmanaged spend, and drill down all the way to individual transactions such as purchase orders.
Comments on the news
“Today’s dynamic and competitive environment demands that leaders are able to understand the health of their business in a moment’s notice in order to continually unlock the potential of their organisation,” said Betsy Bland, vice president, financial management products, Workday. “By deepening the analytics available as part of the fabric of Workday, we’re giving customers more power to view, understand, and act on their business in order to remain focused on what matters most—their future.”
